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    40-Unit Apartment Complex Title is generated by Realmo AI

    7402-7431 Overton Ave, Raytown, MO 64133

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    Forty-unit multifamily property off Highway 350 with multiple HVAC and roof replacements since 2017.

    Type:Multifamily
    Property size:
    40,000 SF
    Price / SF:
    $73/SF
    Added:
    May 27, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 6 at 3:46 am

    Property Features for 7402-7431 Overton Ave

    General Information

    Standard status
    Active
    Size
    40,000 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1965

    We can help!

    Listing Contact
    Nick Ambrosio

    Listing agent Nick Ambrosio License #2019045481

    Listing office Peak Real Estate Partners

    Listing date May 27, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Peak Real Estate Partners

    HighLights

    • 40‑unit apartment complex in Raytown, MO off Highway 350
    • 14 furnaces and 14 HVAC systems replaced since 2019, with most upgrades completed in the last 3 years
    • Roof replacements include 1 roof in 2017, 2 roofs in 2021, and the final roof in 2022
    • Current tenant mix includes 2 voucher tenants, 5 mid‑term rental tenants, and the remainder market rate
    • Value‑add potential with renovations completed sporadically during ownership
    • Possible expansion: add two units in each basement, which would require removing the on‑site laundry facilities

    Overview

    The Overton Apartments is a 40-unit apartment complex in Raytown, Missouri. The property includes unit-level furnaces and HVAC systems, with 14 furnaces and 14 HVAC units replaced since 2019, and multiple roof replacements completed in 2017, 2021, and 2022. Renovations have been completed sporadically over the course of current ownership, leaving room for future value improvements. The existing design features spacious units with exposed brick and balconies.

    The community is located right off Highway 350, providing convenient access to Highways 435 and 470. Current occupancy includes two voucher tenants and five mid-term rental tenants, with the remainder operating as market-rate units. The property also has shared laundry facilities.

    For buyers and operators, this is a workforce-housing oriented rental property with a meaningful track record of building systems replacements, including HVAC and roof work. The unit sizes and exterior presentation support a tenant-ready product, while the documented history of periodic interior updates indicates there may be opportunities for continued capital planning. The property also has space in the basements that could allow for adding two units per basement, with the tradeoff of removing the on-site laundry facilities.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Raytown
    County
    Jackson
    State
    Missouri
    Longitude
    -94.4672786
    Latitude
    38.9888286

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    FAQs

    What type of property is this?
    Apartment building - Forty-unit multifamily property off Highway 350 with multiple HVAC and roof replacements since 2017.
    Where is this apartment building located?
    The property is located at 7402-7431 Overton Ave Raytown, MO.
    What is the asking price?
    The asking price for this property is $2,950,000.
    What are key features of this property?
    This property features: 40‑unit apartment complex in Raytown, MO off Highway 350; 14 furnaces and 14 HVAC systems replaced since 2019, with most upgrades completed in the last 3 years; Roof replacements include 1 roof in 2017, 2 roofs in 2021, and the final roof in 2022
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Nick Ambrosio
    Real Estate License ID: 2019045481
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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